November 4, 2008

Cool Southern Summer Brings Progress Energy $10 Million Drop in Net Income, an Industrial Info News Alert

Researched by Industrial Info Resources (Sugar Land, Texas) -- On October 31, Progress Energy Incorporated (NYSE:PGN) (Raleigh, North Carolina) announced third-quarter 2008 earnings. The company's net income fell $10 million from last year, moving from $319 million in 3Q07 to $309 million this year. Progress' ongoing year-to-date earnings, however, are up more than 10%, rising from $591 million in 2007 to $653 million this year. Industrial Info, as part of its North American Industrial Database, is currently tracking 46 projects of Progress Energy in the U.S. The projects range in size from a $1.2 million scheduled outage in mid-2009 to a $14 billion grassroot nuclear power station in Florida scheduled to begin construction in 2012.

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SOURCE: Industrial Info Resources